- XRP recently set a milestone by processing over 6.3 million transactions in one minute, showcasing its ability to handle large-scale transactions.
- Despite the uncertainty surrounding the Ripple vs. SEC lawsuit, XRP remains resilient, with Ripple’s recent victories in court and its expansion into the crypto custody market.
Ripple’s native crypto XRP continues to hit new milestones making it one of the most-traded digital assets in the crypto landscape. Recently, the XRP network processed more than 6.3 million transactions in just one minute setting a new milestone while demonstrating its prowess to handle large-scale transactions.
Brett, a popular crypto personality on the X platform highlighted the development by sharing the video from his peer Xaif.03 showing how the XRP transactions skyrocketed.
Interestingly, this development happens at a time amid the ongoing uncertainty in the Ripple vs SEC lawsuit. However, despite these legalities, the altcoin has continued to show strength as institutional buying of XRP has surged by a staggering 266%, reported CNF.
Ripple, the company behind XRP, has been locked in a lengthy legal battle with the SEC over whether XRP qualifies as a security. In July 2023, Ripple achieved a significant victory when a federal judge ruled that XRP sales on public exchanges were not securities offerings and that XRP itself is not a security.
A year later, Ripple further prevailed when the court ordered it to pay a $125 million fine, far below the SEC’s original demand of $1.95 billion. However, the SEC’s decision to appeal has reignited concerns, leaving many in the crypto community uncertain about XRP’s long-term future.
Despite this, Ripple continues to make bold moves as it recently stepped into the crypto custody market opening the gates for major XRP adoption by global banks, reported CNF.
XRP Community Shows Excitement on New Milestone
Following the announcement of XRP’s legal victory, the crypto community responded with both excitement and skepticism. Enthusiastic users on X celebrated the news, with one exclaiming, “XRP will rule the world!”
Another user remarked, “That’s what it’s built for,” highlighting XRP’s reputation as a fast and scalable digital asset designed for high-volume transactions. Many pointed to XRP’s potential to handle millions of transactions per minute, aligning with Ripple’s vision of using it as a tool for efficient cross-border payments and broader financial applications.
Blockchain startup Ripple is making all the right moves to make inroads in the global traditional payments market. Market participants believe Ripple’s adoption of ISO 20022 could pave the way for XRP’s integration into traditional payment systems. ISO 20022 is a versatile framework that enables users and messaging organizations to structure information using a globally standardized approach, reported CNF.
On Tuesday, Ripple announced its exchange partners for hosting the RLUSD stablecoin, including Bitstamp, Uphold, Bitso, Independent Reserve, MoonPay, CoinMENA, and Bullish. Additionally, market makers Keyrock and B2C2 will provide liquidity support for RLUSD during its launch phase, reported CNF.
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